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Strategic objectives of small and midsized businesses.

If you are like most executives of small and midsized businesses, you primarily focus on growing revenue and controlling company spending. Most likely you have an accounting system where you track and record your company’s finances. You may leverage technology to streamline some processes in your company, such as a customer relationship management system to manage revenue and the sales pipeline.

Chances are, however, you still use manual, paper-based processes to track and manage company expenses.

Excel-based travel expense reports and piles of paper purchase requisitions and invoices are the norm and your finance department gets barraged with questions from concerned budget owners every month-end. Why?

Without an automated system to control expenses, you have little or no ability to actively manage company spending. You are often left hoping that decisions to spend money remain within budget and in compliance with company policies.

Drivers for expense control automation

The motivating issue that actually compels a company to resolve expense control concerns varies greatly from organization to organization. Common problems include:

• No Automation
  Manual, paper-based processes for creating and approving expense reports, purchase orders and invoices are time-consuming, costly and susceptible to fraud
• No Visibility
  Lack of visibility into spending before, during and after it occurs results in an inability to manage to the budget
• No Control
  Companies are either unable to enforce their expense policies or have yet to establish spending policies

With ExpenseWatch.com, you gain complete visibility into all company spending and comprehensive control over how money is spent, before, during and after each transaction.